NORWEGIAN INVESTOR ELECTED NEW MEMBER OF THE BOARD BY THE SCN ANNUAL GENERAL MEETING
(NGM:SCN)
At the Annual General Meeting in Scandinavian Clinical Nutrition i Sverige AB (publ) today, the Norwegian investor Tore Eiklid was elected new Member of the Board.
“I am very glad to announce that Tore Eiklid has been elected new Member of the Board of SCN. He has extensive experience of the international financial market and a vast network, especially in Norway, and will be a very good complement to the other Board Members. I look forward to continuing as Chairman of the Board for another year, and to seeing the results of our new strategy and all the measures taken to strengthen the company’s finances”, says Jörn Erik Aas, Chairman of the Board.
The following decisions were also made at the Annual General Meeting (AGM):
Proposed Appropriation of Retained Earnings
The AGM decided that the net loss for the year is deducted from share premium reserve and that profit from last year is carried forward. The company does not propose any dividends to be paid.
Director’s Fees
The AGM decided that the Chairman of the Board is to receive SEK 200,000 in remuneration, and the other Directors not employed by the company are to receive SEK 100,000 per person. The auditor’s fee is to continue to be paid against an approved invoice.
New Articles of Association
The AGM decided to change the Articles of Association in accordance with the following:
• An increase of the share capital in §4
• An increase of the number of shares in §5
• A change in §8 to adjust the Articles to fit with a presumed change in the Swedish Companies Act, regarding how notice to shareholders’ meetings are to be given
The AGM’s decision regarding change of §8 in the Articles of Association is conditional to the presumed change in the Swedish Companies Act becoming effective and that the new wording is in agreement with this change.
Authorizations
The AGM decided to authorize the Board to issue up to 6,000,000 new shares, convertible debentures or warrants until the next AGM, on one or more occasions, with or without right of priority for the current shareholders. Issuances shall be done on market terms, with reservation for market rated issue discounts when applicable, and with or without provision of contribution or set-off.
Approval of Transaction
The AGM decided to approve the Board’s proposal to transfer 116,000 of SCN’s shares in Scandivir AB to Thomas Christensen in order to settle his claim on the company.
For more information, please contact:
Ulf Söderberg, CEO, us@scnutrition.com, +46 708 13 22 81
Jörn Erik Aas, Chairman of the Board, jea@scnutrition.com, +47 924 99 360
Scandinavian Clinical Nutrition i Sverige AB (publ)) works in R&D and distribution of clinically tested, scientifically documented products within the field of nutrition (nutraceuticals). Established in 2006, SCN maintains a product portfolio with established trademarks, such as CUUR, Coldizin, Immulina, Membra7 and Ledactin. Core competence and strategic alliances, within both R&D and sales, in combination with innovative and clinically proven products, create good conditions for profitable growth both in Sweden and internationally. The shares of SCN are traded under the ticker “SCN” on Oslo Axess (www.osloaxess.no) and NGM Equity (www.ngm.se).For more information, please visit www.scnutrition.com.